Spotify responds to Thom Yorke comments: We’re investing in new music

Spotify has defended itself after Atoms For Peace pulled its music from the platform and members Thom Yorke and Nigel Godrich blasted it for not paying emerging artists enough.

The pair took to Twitter this morning to declare that the streaming service was ruining the music industry, but the Swedish company has hit back saying it has had ‘a hugely positive effect on artists and new music’ after paying $500 million to rightsholders.

‘Spotify’s goal is to grow a service which people love, ultimately want to pay for, and which will provide the financial support to the music industry necessary to invest in new talent and music,’ the company told Music Week.

‘We want to help artists connect with their fans, find new audiences, grow their fan base and make a living from the music we all love.

Thom Yorke has pulled his music from Spotify (Picture: Reuters)

‘Right now we’re still in the early stages of a long-term project that’s already having a hugely positive effect on artists and new music.’

It added: ‘We’ve already paid US$500M to rightsholders so far and by the end of 2013 this number will reach US$1bn. Much of this money is being invested in nurturing new talent and producing great new music.

‘We’re 100% committed to making Spotify the most artist-friendly music service possible, and are constantly talking to artists and managers about how Spotify can help build their careers.’

Despite Yorke’s insistence that putting his Atoms For Peace album AMOK on Spotify is not acceptable, Radiohead’s entire back catalogue is still fully available.